Special Assistant to the Prime Minister on Political Affairs Dr Shahbaz Gill has said that difficult decisions taken by the government are now yielding positive results. In a tweet on Saturday, Dr Shahbaz Gill said that State Bank of Pakistan (SBP) has revised the gross domestic product (GDP) growth rate for the current year from two to three percent while International Monetary Fund (IMF) and Moody’s have also projected four percent growth rate of GDP in next financial year. Dr Shahbaz Gill said satisfaction of international financial institutions reflects that the propaganda of opposition about the economy is only hatred.
Earlier on Friday, the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) decided to maintain the policy rate at seven percent. The MPC noted overall positive trends since its last meeting in January with continued recovery of growth and employment, and improvement in business sentiment. “While still modest, at around 3 percent, growth in FY21 is now projected to be higher than previously anticipated,” the statement said, crediting the higher projection to improved manufacturing prospects and the fiscal and monetary stimulus provided during the Covid-19 pandemic.